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MORTGAGE LOANS (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of the breakdown of the commercial mortgage loan portfolio by property type

The following table includes a breakdown of the Company’s commercial mortgage loan portfolio by property type as of December 31, 2018:



Type	Percentage of Mortgage Loans on Real Estate
Retail	45.0	%
Office Buildings	13.2
Apartments	10.2
Warehouses	11.3
Senior housing	15.8
Other	4.5
	100.0	%

Schedule of mortgage loans by location of properties

Approximately 62.5% of the mortgage loans are on properties located in the following states:



State	Percentage of Mortgage Loans on Real Estate
Florida	8.8	%
Alabama	8.6
Texas	7.5
Georgia	7.3
California	7.2
Michigan	4.8
Tennessee	4.7
Utah	4.7
Ohio	4.5
North Carolina	4.4
	62.5	%

Schedule of changes in the allowance for mortgage loan credit losses

A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property:



	As of December 31,
	2018			2017
	(Dollars In Thousands)
Beginning balance	$	—		$	724
Charge offs	—			(6,708		)
Recoveries	(209		)	(731		)
Provision	1,505			6,715
Ending balance	$	1,296		$	—

Schedule of an analysis of the delinquent loans

An analysis of the delinquent loans is shown in the following chart:



	30-59 Days Delinquent		60-89 Days Delinquent		Greater than 90 Days Delinquent		Total Delinquent
	(Dollars In Thousands)
As of December 31, 2018
Commercial mortgage loans	$	1,044	$	—	$	1,234	$	2,278
Number of delinquent commercial mortgage loans	4		—		1		5
As of December 31, 2017
Commercial mortgage loans	$	1,817	$	—	$	—	$	1,817
Number of delinquent commercial mortgage loans	2		—		—		2

Schedule of information regarding impaired loans

For information regarding impaired loans, please refer to the following chart:



	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income
	(Dollars In Thousands)
As of December 31, 2018
Commercial mortgage loans:
With no related allowance recorded	$	—	$	—	$	—	$	—	$	—	$	—
With an allowance recorded	5,684		5,309		1,296		1,895		267		293
As of December 31, 2017
Commercial mortgage loans:
With no related allowance recorded	$	—	$	—	$	—	$	—	$	—	$	—
With an allowance recorded	—		—		—		—		—		—

Schedule of mortgage loans that were modified in a troubled debt restructuring

Mortgage loans that were modified in a troubled debt restructuring as of December 31, 2018 and 2017 were as follows:



	Number of contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
		(Dollars In Thousands)
As of December 31, 2018
Troubled debt restructuring:
Commercial mortgage loans	1	$	2,688	$	1,742

As of December 31, 2017
Troubled debt restructuring:
Commercial mortgage loans	1	$	418	$	418